CT2019-3463 AOL

• Contract/PO #: CT2019-3463
• Contractor Name: Left Hand Ditch Comapny
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Colorado Water Conservation Board
March 12, 2019
Page 3
in nature or amount; (iv) waive notice, opportunities to cure or redeem in the event of a default, or
rights of recourse against a party in the event of willful, wanton or intentional misconduct by such
party, each such waiver may be found by a court to be unenforceable; (v) waive the doctrine of
laches or any applicable statute of limitations; or (vi) authorize Lender to sign or file documents
without the signature of Borrower;
D. Our opinions are subject to the effect of bankruptcy, insolvency,
reorganization, receivership, moratorium and other similar laws affecting the rights and remedies of
creditors generally.
E. We express no opinion as to the enforceability of cumulative remedies to the
extent such cumulative remedies purport to or would have the effect of compensating the party
entitled to the benefits thereof in amounts in excess of the actual loss suffered by such party;
F. The duties to exercise reasonable care in the custody and preservation of
collateral, to deal with and to dispose of collateral in a commercially reasonable manner, and to act
in good faith with diligence, reasonableness and care as required by the Colorado UCC or other
applicable law may not be disclaimed by agreement or released prior to a default;
G. The rights of Borrower to receive notices under CRS §§ 4-9-611, 4-9-620, et
seq., and other applicable laws may not be waived prior to default, and the failure to comply with
such notice requirements may affect Lender's ability to enforce its liens and security interests or bar
the recovery of any deficiency remaining after the retention or sale of repossessed collateral;
H. Notwithstanding certain language contained in the Loan Documents, Lender
may be limited to recovering only reasonable expenses with respect to the retaking, holding,
preparing for sale or lease, selling, leasing and the like of collateral and reasonable attorneys' fees
and legal expenses; and
I. Our opinions are based upon facts, laws, and conditions as they exist on the
date of this letter or, as to any fact or condition referenced herein and contained in any certificate,
search, or the Loan Documents, as of the earlier date indicated therein. We disclaim any obligation
or duty to update our opinions based upon any changes in facts, laws, or conditions after the date of
this letter.
Very truly yours,
c„„L_
{W.1272318 CGE}